Minnesota § 48.46 AUTHORIZED SECURITIES PURCHASED

Minnesota Statutes

§ 48.46 — AUTHORIZED SECURITIES PURCHASED

Minnesota § 48.46

PartBANKING

Ch. 48BANKS

This text of Minnesota § 48.46 (AUTHORIZED SECURITIES PURCHASED) is published on Counsel Stack Legal Research, covering Minnesota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Minn. Stat. § 48.46 (2026).

Text

No state bank hereafter organized with authority to exercise fiduciary powers pursuant to the provisions of sections48A.07and48A.08, the corporate name of which contains the words "trust" or "trust company," shall transact any banking or trust company business until it shall have invested in and assigned, transferred to, and deposited with the commissioner the authorized securities described in and required by section48.37, relating to the authorization of existing state banks to exercise such fiduciary powers, and until the commissioner of commerce has issued the certificate provided by section47.16, and a certificate stating that such bank is qualified to exercise the fiduciary powers set forth in sections48A.07and48A.08.

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No state bank hereafter organized with authority to exercise fiduciary powers pursuant to the provisions of sections48A.07and48A.08, the corporate name of which contains the words "trust" or "trust company," shall transact any banking or trust company business until it shall have invested in and assigned, transferred to, and deposited with the commissioner the authorized securities described in and required by section48.37, relating to the authorization of existing state banks to exercise such fiduciary powers, and until the commissioner of commerce has issued the certificate provided by section47.16, and a certificate stating that such bank is qualified to exercise the fiduciary powers set forth in sections48A.07and48A.08.